Navios Maritime Acquisition Bags Loan for Two Tankers

Monaco-based owner and operator of tanker vessels Navios Maritime Acquisition Corporation has secured a new USD 44 million bank debt facility for two of its product tankers.

The vessels in question are the Nave Rigel LR1 product tanker and the Nave Dorado MR2 product tanker.

The facility has an amortization profile of 11 years and a margin of 230 bps, the company said.

On a separate note, Navios Acquisition said that it has taken delivery of the Nave Photon, a 2008-built VLCC of 297,395 dwt. The vessel has been chartered out for two years at a rate of USD 40,488 net per day.

The vessel is expected to generate approximately USD 21.8 million of aggregate EBITDA during this charter.

The Nave Photon has been provided as collateral under the 8.125% first priority ship mortgage notes due 2021, to replace the Nave Rigel LR1 product tanker and the Nave Dorado MR2 product tanker. As a result, the company said that approximately USD 3 million of value has been added to the collateral package.

Following the delivery of the Nave Photon, Navios Acquisition has 39 vessels on-the-water of which eight are VLCCs, 27 are product tankers and four are chemical tankers.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Feb 2020 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 1

The 9th Annual Event Green Shiptech China Congress 2020

The 9th Annual Event- Green Shiptech China Congress 2020 will be held on next…

read more >

Belgian Offshore Days 2020

During this event, a conference will be held with focus on “Increasing value by data driven innovation…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >

World Future Ports Summit 2020

This event will bring together ports and maritime shipping professionals from global leading companies and authorities to discuss recent digital technologies…

read more >